Chandigarh: The Haryana government on Friday approved the extension of the metro link from Sikanderpur station to sector 56, Gurgaon.
This project will have the route length of 6.5 kms. With the project cost of Rs 2,143 crore and will run from Sikanderpur station to sector 56, Gurgaon.
This project is likely to be commissioned within a period of 3 years, an official spokesman said.
The approval was granted by the state cabinet, which met under the chairmanship of chief minister Bhupinder Singh Hooda.
It will make commuting easier for lakhs of people living on the south side of Gurgaon and will further strengthen the Mass Rapid Transport Infrastructure in Gurgaon.
This project will be a boon to the existing Metro Rail Project being developed in the Cyber City of Gurgaon, the trial runs of which will take place on October 2, 2012, in the presence of the Haryana chief minister.
This project has the provision of further extension of Metro Rail towards old Gurgaon across National Highway, which will also be taken up subsequently for the benefit of residents of Gurgaon living on the north side of Gurgaon, the spokesman said.
M/s IL and FS Rail Limited will implement this project under the PPP Model and entire cost of the project will be borne by M/s IL and FS Rail Limited.
The Haryana government will provide ROW on lease hold basis. This is the unique model for implementation of Metro Rail Projects in the country wherein not only the entire project cost will be borne by the private party but it will also be maintained and operated by the private party at its own cost.
The private party that is M/s IL and FS Rail Limited will also pay Rs 2,010 crore to Haryana Government towards connectivity charges over a period of 20 years starting from 16th year from the date of signing of the concession agreement.
M/s IL and FS Rail Limited will also share with the State Government 5 percent to 10 percent of the revenue generated from the property development and advertisements rights during the operation period.